Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement. Sement of Retained Earnings anda Balance Sheet (2) Then pecare closing trics, pou them to accounts, and prepare a posl-closing trial balance The heverining in Income Statement 1000 Advance De 000 40 4000 15000 0 21500 Cowok Paired Earns Advertising Decatione We spend www.pw Supo LE 300 Statement of Retained Eamings 845196 545165 General Joumai PR Debt Balance Sheet Date Account Credit Cash Accounts Receivable $4500 Prepaid Insurance $2500 $24675 Advertising Supplies $1000 Equipment Accum Depr - Equip $150 $6000 Accounts Payable $475 Unearned Revenue $4000 Interest Payable $40 Notes Payable $4000 Common Stock $15000 Retained Earnings $0 Dividends Advertising Revenue $21500 $3000 Depreciation Expense Insurance Expense $500 Interest Expense $40 $150 Supplies Expense $2000 Utility Expense $800 Bear Advertising Inc. Adjusted Trial Balance August 31, 20XX $24675 4500 2500 1000 6000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depr Accounts Payable Unearned Revenue Interest Payable Notes Payable Common Stock Retained Earnings Dividends Advertising Revenue Depreciation Expense Insurance Expense Interest Expense Supplies Expense Utility Expense Totals $ 150 475 4000 40 4000 15000 0 3000 21500 150 500 40 2000 800 $45165 $45165